Stephen Sibold, the chairman of both the Alberta Securities Commission and the Canadian Securities Administrators, will be leaving the ASC after his current contract ends in the spring of 2005.

Sibold was appointed chairman and CEO of the ASC in May 2000 for a five-year term. During his tenure, he headed up development of the Uniform Securities Legislation project, which is forecast for legislative consideration in the spring. Under Sibold, the ASC also developed and implemented new oil and gas disclosure standards and adopted new capital raising exemptions.

Sibold will also be stepping down from his job at the CSA at the same time. As chairman of the CSA, Sibold oversaw the creation of the permanent CSA secretariat and a policy coordination committee to provide increased direction and control of the CSA’s activities.

“I am extremely pleased with the success which we have achieved at the ASC over the past five years,” Sibold said. “I have been very proud of our accomplishments in the many areas of securities regulation, where we continue to provide practical and professional oversight of the capital market in Alberta.”

Prior to joining the ASC, Sibold was an executive at Canadian Airlines Corp. where he served as senior vice-president and general counsel for four years. Before that, he practiced corporate and securities law for 12 years as a partner at Bennett Jones LLP.